The Cava logo is displayed at a Cava restaurant chain location on February 6, 2023 in Pasadena, California.
Mario Tama | Getty Images News | Getty Images
Mediterranean fast-casual restaurant chain Cava priced its initial public offering at $22 per share on Wednesday, people familiar with the matter told CNBC’s Leslie Picker.
The company on Monday raised its pricing expectations to a range of $19 to $20 per share. Shares are expected to debut on the public markets Thursday and trade under the stock symbol CAVA.
Cava, founded in 2006, opened its first location in 2011 and now operates more than 260 restaurants. It’s drawn frequent comparison to Chipotle Mexican Grill for its build-your-own-entree style of dining.
Correction: Cava raised its pricing expectations for its initial public offering on Monday. An earlier version of this story misstated the day.
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